Asian shares follow Europe higher on EU relief, auto merger

SHANGHAI: Asian shares tracked European gains on Tuesday, as relief over EU election results eased concerns about political difficulties in the bloc and merger news supported auto shares, although persistent concerns about trade capped regional sentiment.

European auto shares had rallied after Italian-American carmaker Fiat Chrysler confirmed it had made a"transformative merger" proposal to French peer Renault in a deal which would create the world's third-biggest carmaker. That sector rally spilled into Asia with Mitsubishi Motors Corp in Japan adding 3.17per cent and Nissan Motor Co gaining 2.11per cent.

On Tuesday, U.S. yields were also lower. Benchmark 10-year Treasury notes yielded 2.3132per cent. The two-year yield touched 2.1766per cent.

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